In my real estate business I focus on multiple avenues
As you know I like REO investing, I like to rehab properties,
I like wholesaling private owned properties, and we do some
rental stuff as well.
But what I’ve noticed is that each of these avenues in my
business has a different “sweet spot”.
What do I mean by this?
First off, a sweet spot is basically an area where a specific
real estate investing strategy works best.
So, if I’m looking to invest in REO’s, my criteria for that
investment area will be different than if I am targeting
properties to rehab.
And if I’m looking to do long term lease options or using
some other creative strategy to acquire real estate, then
my criteria will change again.
So as you can see it’s really important to know where the
sweet spot in real estate is for each strategy you are looking
to use in your market.
Knowing your sweet spot will help you determine the types
of buyers and sellers to target in a specific area too.
Here are some questions to answer in order to find the sweet
spot in real estate for a particular strategy:
1. What part of town is it in?
2. Are there more homeowners than renters?
3. It is a war zone or is the neighborhood well kept?
4. Are their more investor buyers or homebuyers?
5. What’s the average price for a property in the area?
6. What types of houses are in the area? ETC.
When you’re searching for your sweet spot in real estate,
use the questions above in order to determine what your
investment strategy will be for that area.
One more thing…
One thing I like about the strategy described in the video below
is it works in multiple sweet spots. All you have to do is use the
system to find out what works best and you can literally clean up.
That’s it for today!